If you don’t have a warranty for your home or for a rental property you own, you aren’t alone. Nearly all property owners will have home insurance for their property but not many people decide to get a home warranty. While the two may sound similar, they are completely different services. A home warranty gives you coverage for specific things that you have in your home.
It is most commonly used for high-value items such as HVAC systems, solar roofs, and other expensive fixtures and fittings. However, you can also get a home warranty for smaller appliances such as a stereo system or even a blender. Here are a few reasons why investing in a home warranty system may be a good choice for you.
1. Unique Coverage
A home warranty gives you coverage that you won’t find in any other financial product. Home insurance will protect against damage to the actual building or the property, but it won’t cover appliances and belongings that are stolen or damaged for any reason. A home warranty will not only provide coverage in the case of an unfortunate accident, but it also protects you from the inevitable wear and tear that your belongings are exposed to and the natural depreciation they undergo.
2. Access To Professionals
Home warranty companies cover all kinds of things in a home. These include electrical appliances, high-end computers, TVs, and even machinery and or storage solutions. The companies have a network of professionals that they reach out to whenever they need to assist a customer. This way, you don’t have to spend time looking for a suitable technician. Even though you can find information online about the best service providers in your area, it is much easier to just call up a single entity and have them take care of the issue. You get access to a network of individuals and companies who have already been vetted for their quality.
If you are buying a property in a different part of town or even in a different part of the country, it can be quite expensive to hire a full-time property manager to take care of the asset. With a home warranty company, you can buy a house anywhere in the country and still have professional help at your fingertips. According to the options found in the home warranty by AHS, a good provider should not only get you comprehensive coverage but also provide their services in many localities around the country. This is particularly useful if you are new to a town or city and you don’t know where to get help. The home warranty service is a one-stop solution to all your needs.
Certain appliances in your home can cost a lot of money to repair. This includes both labor charges and part replacement costs. With a home warranty, you are paying a fixed fee every month, regardless of how much repair costs. HVAC repairs can cost north of $1000 and if this comes up out of the blue it can seriously impact your cash flow for the month. In such cases, home warranties work out to be very cost-effective, not to mention the time and money you save by not having to find a service provider on your own.
5. Home Value
If you are in the market to sell your home then adding a home warranty is a good way to increase your asking price and, in turn, your profit margin. When you sell your property with a home warranty it gives the buyer the mental comfort that the property has been professionally maintained. Home buyers will be happy to pay a premium for this feature. Just like upgrading parts of the home, getting a home warranty is an added bonus for buyers.
6. Lowers Risk
Owning property and owning things within that property comes with a notable risk. Whether that is in the form of a domestic fire, an electrical surge due to a storm, or just the probability of a child breaking or damaging one of the appliances, the risk is ever-present. By accessing a home warranty, you’ll have the peace of mind that if something were to go wrong, you won’t have to bear the financial cost. This can provide great stress relief in situations where the home is already at high risk.
Home warranties can be purchased for any kind of home. There are multiple packages that provide different levels of coverage, and you can even get a specialized plan if you only need protection from a particular risk. The amount you pay per month will depend on a few variables, and you can always talk to a professional to discuss your exact needs and get the best coverage for your situation. This will not only save you money, but it will eliminate a lot of stress and hassle in the future.
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